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  • #869,481
  • Jan 12, 2014 5:29am Jan 12, 2014 5:29am
Quoting Ken A
{quote} How much is enough per month? $20i, 50, 100K, ....... ? And how much capital are you willing to put in to achieve that
In Denmark i Would need about $5-6k a month to make a Living from forex.. It is such a expensive country with High tax..

I hope one day this Will be possible, right now it is just lunch money..
  • #869,482
  • Jan 12, 2014 5:40am Jan 12, 2014 5:40am
Quoting fxdk
{quote} In Denmark i Would need about $5-6k a month to make a Living from forex.. It is such a expensive country with High tax.. I hope one day this Will be possible, right now it is just lunch money..
Same in France (Paris) if you want to have a good life.
Most people in here live with 2k/month...and stuggling at the end of every month.
COT: The precious data ignored
  • #869,483
  • Jan 12, 2014 5:52am Jan 12, 2014 5:52am
Quoting fxdk
{quote} In Denmark i Would need about $5-6k a month to make a Living from forex.. It is such a expensive country with High tax.. I hope one day this Will be possible, right now it is just lunch money..
Take your time don't rush it. Increase the bank roll after you have figured out what is working and comfortable for you. It is all about you not about the markets.

Have seen people turn $50 to $2,000 and $1K to $128K less than 2 months. Also have seen from few $K's to over $1 million then eventually gave it all back.
  • #869,484
  • Jan 12, 2014 5:58am Jan 12, 2014 5:58am
Quoting Ken A
{quote} Take your time don't rush it. Increase the bank roll after you have figured out what is working and comfortable for you. It is all about you not about the markets. Have seen people turn $50 to $2,000 and $1K to $128K less than 2 months. Also have seen from few $K's to over $1 million then eventually gave it all back.
This one hurts
COT: The precious data ignored
  • #869,485
  • Jan 12, 2014 6:02am Jan 12, 2014 6:02am
Quoting kuroro001
{quote} This one hurts
Ii don't remember the username and I was following his live trade explorer here on FF
  • #869,486
  • Edited 2:35pm Jan 12, 2014 6:31am | Edited 2:35pm
Quoting fxdk
{quote} In Denmark i Would need about $5-6k a month to make a Living from forex.. It is such a expensive country with High tax.. I hope one day this Will be possible, right now it is just lunch money..
just increase the size then..

I don't know how experienced you are, but if you're thinking about trading full time, you need to adjust your living expenses to a minimum, get rid of your debt (if you have any), have a buffer for a year or more, and be prepared to life a very very very frugal life. That way you'll remove some of the pressure of making money, which in the end, kills a lot of traders..

the money will eventually come, but first when you stop thinking about them..

gl
Patience is a virtue...
  • #869,487
  • Jan 12, 2014 6:32am Jan 12, 2014 6:32am
Quoting Ken A
{quote} Take your time don't rush it. Increase the bank roll after you have figured out what is working and comfortable for you. It is all about you not about the markets. Have seen people turn $50 to $2,000 and $1K to $128K less than 2 months. Also have seen from few $K's to over $1 million then eventually gave it all back.

i struggle most with my emotions i think, so yeah it is all about me..

I have no problem with small positions , but When i Trade standard lot (When i do it is because i am in a rush to get Rich Quick thing) i fail often.. I take a loss, but it often Will have turned out to be a winner, or i take profit to quickly.. I have a tendency to break my own rules.. One of my rules was not to Trade gbp/jpy, because it is a pipmonster, but suddenly i caught my self trading only gbp/jpy..
  • #869,488
  • Jan 12, 2014 6:50am Jan 12, 2014 6:50am
Quoting hadox
{quote} just increase the size then.. I don't know how experienced you are, but if you're thinking about trading full time, you need to adjust you're living expenses to a minimum, get rid of your debt (if you have any), have a buffer for a year or more, and be prepared to life a very very very frugal life. That way you'll remove some of the pressure of making money, which in the end, kills a lot of traders.. the money will eventually come, but first when you stop thinking about them.. gl

I am am a Pro trader When it comes to paper/demo trading It is a different story on my live account... I am not experienced enough , but i feel confident..

my biggest struggle is as Said my emotions and patience to wait for the right set up.. Often i feel That i just must be in a Trade..

I would like to adjust my living expenses, but it is not possible because i need to feed my kids..


Godt nyt år, lever du selv af trading?
  • #869,489
  • Jan 12, 2014 7:31am Jan 12, 2014 7:31am
Quoting fxdk
{quote} Often i feel That i just must be in a Trade..
At strat of my trading I tried to stay in every possible trade in hope to get more money... tripple my account in few weeks and what not Now I am down to 5-8 trades per month, waiting for my perfect setup to lower the risk.

I have calculated the profit that I can reasonably hope for at the end of each month - which is around 7%. And then I just withdraw that amount at the end of the month - it doesnt metter if I gained more, didnt gain anything or lost some that month.
It helps me to balance my personal budget.

Without that I found out to be stressing to much about loses and then risking more then I usually would to get back some of the lost money, especially towards the end of the month.

All the extra profit or loses I balance at the end of the year, when you can some extra profit on your account withdraw it as your bonus or just lower the monthly withdrawal for the next year.
  • #869,490
  • Jan 12, 2014 8:52am Jan 12, 2014 8:52am
My EUR/USD trade(s) for the week. All trades are executed by an EA ran on a one hour chart with a TP of 50 and a SL of 53.
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  • #869,491
  • Jan 12, 2014 9:03am Jan 12, 2014 9:03am
i need something like:
gbpx jpyx (similar usdx ,eurx)
knows someone one broker who offer this charts?
  • #869,492
  • Edited 10:05am Jan 12, 2014 9:40am | Edited 10:05am
Hi all,

would laugh if it would go like this...

For 5-6 days a good match
Attached Image
  • #869,493
  • Edited 4:20pm Jan 12, 2014 11:16am | Edited 4:20pm
Quoting fxdk
{quote} i struggle most with my emotions i think, so yeah it is all about me.. I have no problem with small positions , but When i Trade standard lot (When i do it is because i am in a rush to get Rich Quick thing) i fail often.. I take a loss, but it often Will have turned out to be a winner, or i take profit to quickly.. I have a tendency to break my own rules.. One of my rules was not to Trade gbp/jpy, because it is a pipmonster, but suddenly i caught my self trading only gbp/jpy..
There you know what the problem is and have the answer. Make peace with yourself then everything will be fine.

Until then, stay away from this board. You will learn nothing from ego boosting and bickering posts.
  • #869,494
  • Edited 2:26pm Jan 12, 2014 2:13pm | Edited 2:26pm
Don't shoot me down as i'm still new to this, but here are my thoughts.

Seems as though this will continue upwards due to the strong finish on the daily chart. May struggle at 1.37742? Have added a screenshot of the chart i'm seeing. Anyone agree or disagree with this theory? Any comments and criticism appreciated

EDIT - Looking at the chart again it seems i have labelled it wrong. The bar above 1.37742 seems to be where it will struggle at 1.38117.

Weekly charts suggest it may go higher, but still struggle around 1.38182.

EDIT 2 - 4H charts are telling me i haven't got a clue what the f@#k i'm doing Haha
Attached Image (click to enlarge)
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  • #869,495
  • Edited 4:21pm Jan 12, 2014 2:47pm | Edited 4:21pm
Quoting Griffo
Don't shoot me down as i'm still new to this, but here are my thoughts. Seems as though this will continue upwards due to the strong finish on the daily chart. May struggle at 1.37742? Have added a screenshot of the chart i'm seeing. Anyone agree or disagree with this theory? Any comments and criticism appreciated EDIT - Looking at the chart again it seems i have labelled it wrong. The bar above 1.37742 seems to be where it will struggle at 1.38117. Weekly charts suggest it may go higher, but still struggle around 1.38182. EDIT 2 - 4H charts...
Don't expect much on Monday but 1.3750 is within the daily range. Wait for Tokyo session will have more clues either U/J is leading E/J or E/U

Edit:

Tokyo holiday so may see crazy move or nothing at all
  • #869,496
  • Jan 12, 2014 2:47pm Jan 12, 2014 2:47pm
Quoting fxdk
{quote} I am am a Pro trader When it comes to paper/demo trading It is a different story on my live account... I am not experienced enough , but i feel confident.. my biggest struggle is as Said my emotions and patience to wait for the right set up.. Often i feel That i just must be in a Trade.. I would like to adjust my living expenses, but it is not possible because i need to feed my kids.. Godt nyt år, lever du selv af trading?
nothing wrong about demo trading, no need to waste your money if you don't have a well tested strategy.. but you seriously need to work on your mindset, try to imagine only taking one trade a month - wait for the best risk reward - wait for the money lying on the floor and pick them up..

you only need 1 solid trade every month to make a living, you just need to adjust the trading size and your living expenses to make it work..

anyway gl once again
Patience is a virtue...
  • #869,497
  • Edited 3:57pm Jan 12, 2014 3:44pm | Edited 3:57pm
Quoting rtx
Hello all, short description: I am seeking for 1 - 5 people, who I would like to trade with. Requirements for every person (user): - You have to be able provide me 3 different live trading accounts at specific broker (I will specify broker). Every account has to be owned by different person (3 accounts = 3 independent owners) - Every account has to have 1000 Usd balance or more. I will trade with those accounts. So I would need login and password to your account. Keep in mind that. If you are afraid of looses you don't have to be, DD is almost 0...
Hi,
not much to read in eurusd thread so I went in the members lounge and I found that,

http://www.forexfactory.com/showthread.php?t=466164

How is it possible for FF to allow this kind of thread more than 1 hour. Why isn't it simply suppressed and the membership of the thread starter revoked ? Sometime, I really wonder what FF is really ?
Don't be smart. Be rich.
  • #869,498
  • Jan 12, 2014 4:58pm Jan 12, 2014 4:58pm
Thoughts?
Attached Image (click to enlarge)
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  • #869,499
  • Jan 12, 2014 5:30pm Jan 12, 2014 5:30pm
Shorting EU on every 50pips through buying USED/CHF
Its costing me less trading Euro this way.
We are at bottom range.

Question -You will be killed
Answer-No its part of my trading plan
Question-It might drop another 3k pips
Answer-Will use SL if trade no longer is viable
Question-How long will you be holding
Answer-weeks until TP reached
Question-What is your TP
Answer-Not decided yet.
Question-Are you pyramiding martingaling
Answer-No averaging in.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.weekly.png Size: 26 KB
In trading, you have to be defensive and aggressive at the same time
  • #869,500
  • Jan 12, 2014 6:15pm Jan 12, 2014 6:15pm
Quoting Davit
Shorting EU on every 50pips through buying USED/CHF Its costing me less trading Euro this way. We are at bottom range. Question -You will be killed Answer-No its part of my trading plan Question-It might drop another 3k pips Answer-Will use SL if trade no longer is viable Question-How long will you be holding Answer-weeks until TP reached Question-What is your TP Answer-Not decided yet. Question-Are you pyramiding martingaling Answer-No averaging in. {image}

One thing about Davit is for sure.... he has a plan and plans many steps in advance. Very impressive. I enjoy watching his process of getting into and out of trades. Very educational.
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